Crypto hacks cost $1.18 billion across 107 attacks in Q3
- —107 attacks in Q3 caused $1.18 billion in losses, up 55% quarter-on-quarter
- —Bitget lost $387 million after attackers exploited an external security system
- —Liquid Network attackers minted 4,000 unbacked L-BTC and drained $320 million in BTC
- —71 smart-contract exploits cost $228 million, averaging $670,000 per incident
Why it matters: Four incidents drove 80% of losses and a third of stolen funds was never recovered, raising pressure on exchanges and custodians.
Source: BTC-ECHO